Middle East Money and Ships to examine financial challenges in regional shipping industry

The conference from 7-8 October 2009 at the Grand Hyatt Hotel, Dubai, UAE, will assess the regional appetite for investment in shipping, the likely pattern for recovery, where the money will come from as well as providing a realistic assessment of the current order book.

A special session on financing the industry will be chaired by Marcus Machin, Director of Tufton Oceanic (Middle East), a fund management firm for the maritime and energy related sectors with offices in London, Isle of Man, Dubai, Cyprus, Hong Kong and Singapore.

Machin said:

"For a capital intensive industry such as shipping, developments in the international capital markets have direct and immediate relevance as has been demonstrated through the extreme volatility of recent market cycles across all sectors of the shipping market."

Machin added, "Forums such as Middle East Money and Ships provide a valuable opportunity for the exchange of information and ideas amongst all market participants in relation to the biggest continued challenge of the shipping industry - that of attracting institutional investment capital."

He stated, "For investors shipping has always provided cyclical investment opportunities which - though not for the faint hearted - have on occasion provided exceptional returns. As a barometer of the international economy, marine sector assets have been more widely accepted as an asset class in recent years than ever before."

"Arising from the rapidly changing dynamics of the shipping market, for institutions based in the Middle East, which traditionally have not had wide exposure to international shipping, there is a strong argument to invest in the liquid, US dollar based, and international shipping sector," said Machin.

Richard Coxall, Chief Financial Officer of Abu Dhabi owned Emirates Ship Investment Company which operates a fleet of bulk carriers and product tankers, sees the need for more transparency and higher levels of equity as crucial issues for the regional industry. "The how much, where from and what costs questions in the context of capital for finance need to be answered," said Coxall, who will also be speaking in the debate.

"The regional maritime industry has witnessed great changes and never more so than in today's financial climate," said Christopher Hayman, Chairman of Seatrade, the conference organisers. "All market conditions provide opportunities for those who really want to find them and we will explore the potential for growth and development of the sector."

The 2009 Seatrade Middle East & Indian Subcontinent annual regional awards, recognising maritime safety and environment, ship and port operations and security, plus port and shipping business efficiency, will follow this year's Money & Ships conference. The award's Gala Presentation Dinner will be staged at Madinat Jumeirah, Dubai, on the night of Thursday 8 October 2009. This high level event is expected to be attended by around 800 senior executives from the region's maritime industry.